CAMBRIDGE, Mass.–(BUSINESS WIRE)–Adaptive Surface Technologies, Inc., a world leader in repellent surfaces, today announced it has secured new financing. AkzoNobel has joined an existing list of strategic and financial investors that includes Tokyo Electron Ventures, BASF Ventures, Anzu Partners, and more.
“We are delighted to welcome AkzoNobel as a new strategic investor and are excited to explore the synergies between our companies,” said David Ward, CEO of AST. “This new financing will help us achieve additional commercial milestones and expand the use of our technologies into new industries across the globe.”
AST has two distinct product groups on the market, ‘wet’ repellent coatings including SLIPS® liquid surface coatings that can be applied to liquid-containing vessels and ‘dry’ AST repellent coatings and additives.
AST’s SLIPS coatings have been commercialized as SLIPS® Repel ™ for industrial applications, and as SLIPS® Zero™ for consumer packaging applications. These coatings are more robust than superhydrophobic surfaces and can have higher performing non-stick properties than Teflon® due to their 100% liquid surfaces.
AST was advised on the funding transaction by Stifel Europe.
For more information on AST’s full suite of products, please visit https://adaptivesurface.tech/.
About Adaptive Surface Technologies
A world leader in repellent surfaces, Adaptive Surface Technologies, Inc. is an industrial technology company that produces additives and coatings used for a wide range of industrial, marine, and packaging applications. Our surface-active polymers and SLIPS® coating systems create novel surfaces that repel fluids, contaminants, ice, and biological fouling agents. For more information, visit https://adaptivesurface.tech.
About AkzoNobel
We supply the sustainable and innovative paints and coatings that our customers, communities – and the environment – are increasingly relying on. That’s why everything we do starts with People. Planet. Paint. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global industry leader. It’s what you’d expect from a pioneering paints company that’s committed to science-based targets and is taking genuine action to address globally relevant challenges and protect future generations.
